Rockrose Development Corp. completed its purchase of 1900 M St. NW in Washington, DC, from Madison Square Associates LLC, an affiliate of Dweck Properties. The asset traded for $55 million or $488 per square foot.
The 112,694-square-foot property is currently 89 percent leased and houses tenants such as Levick Strategic Communications, Sherman Meehan and IESC. Originally constructed in 1975, the property underwent renovations in 2000.
James Cardellicchio, Paul Korns and Gerry Trainor of Transwestern’s Institutional Commercial Group represented Madison Square Associates. Rockrose’s Craig Deitelweig was the buyer's in-house representative.
Please see CoStar COMPS #2567084 for more information.